white money
But crackdowns by tax authorities in the U.S., U.K. and Europe in recent years have forced the banks here to hone so-called white-money strategies, which focus on managing only offshore assets declared for tax purposes.
White money is money that is legitimately earned, and fully reported for tax purposes; blue money is legitimately earned, but not reported to every government that could legitimately tax it; and black money is neither legitimately earned nor reported.
No comments:
Post a Comment